On Monday 6th July, the government of Malta signed a Memorandum of Understanding (MOU) with China on cooperation in the field of intellectual property (IP) rights. The MOU consists of a work plan, encompassing the sharing of information on IP laws, policies and working experiences together with the exchange and training of personnel. Moreover, the document also deals with the organisation of joint seminars and the introduction of IP holding companies and IP intermediary service organs in Malta.
During the signing, Economy Minister Dr Chris Cardona explained that IP and knowledge industries are increasingly becoming important drivers of the European and global economy. Recent studies suggest that about 40% of the total EU economic activity is generated by IP rights-intensive industries.
This government propelled initiative aims to raise awareness about the importance and value of IP amongst businesses which were still missing out on raising income from new technology or ideas because they were not fully aware about their IP rights.
Karl Cini, Partner at Nexia BT, attended the signing of the MOU for cooperation in the field of IP rights between Malta and China.
This follows the launch, in November 2014, of the project ‘Making Malta an IP hub’. Nexia BT is proud to be one of the contributors and the firm will act as a co-project manager, together with Ganado Advocates, who led, managed, conceived and put forward the proposal of the IP project. The task of the project managers is to organise and coordinate the initial phase of the studies carried out, collect the various proposals made by professional contributors and submit these to the Steering Committee for further direction.